IFM Investors Pty Ltd Cuts Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

IFM Investors Pty Ltd lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.7% during the first quarter, Holdings Channel reports. The firm owned 15,573 shares of the financial services provider’s stock after selling 271 shares during the period. IFM Investors Pty Ltd’s holdings in LPL Financial were worth $4,114,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Arkadios Wealth Advisors purchased a new stake in LPL Financial during the third quarter worth approximately $222,000. SG Americas Securities LLC purchased a new position in LPL Financial in the third quarter valued at about $1,926,000. Simplicity Solutions LLC lifted its stake in shares of LPL Financial by 38.2% during the third quarter. Simplicity Solutions LLC now owns 6,227 shares of the financial services provider’s stock worth $1,480,000 after purchasing an additional 1,722 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of LPL Financial by 14.2% in the third quarter. Sumitomo Life Insurance Co. now owns 8,409 shares of the financial services provider’s stock worth $1,998,000 after buying an additional 1,048 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of LPL Financial by 18.9% in the third quarter. Commonwealth Equity Services LLC now owns 3,077 shares of the financial services provider’s stock valued at $731,000 after buying an additional 489 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

NASDAQ:LPLA traded up $0.90 during trading hours on Friday, reaching $266.32. 394,211 shares of the stock were exchanged, compared to its average volume of 429,477. The stock has a market capitalization of $19.89 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.29 and a beta of 0.84. The firm has a 50 day simple moving average of $263.85 and a 200-day simple moving average of $241.83. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. LPL Financial Holdings Inc. has a 52 week low of $179.00 and a 52 week high of $274.35.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.18. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business posted $4.21 earnings per share. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.79%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LPLA. UBS Group upped their price target on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. JMP Securities boosted their price objective on shares of LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised their target price on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Barclays boosted their price target on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $268.36.

Insider Activity at LPL Financial

In related news, Director Kabir Sethi sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.50, for a total value of $346,450.00. Following the sale, the director now owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Kabir Sethi sold 1,300 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total transaction of $346,450.00. Following the completion of the transaction, the director now owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the sale, the chief executive officer now directly owns 141,810 shares in the company, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Insiders sold a total of 60,151 shares of company stock valued at $15,911,088 in the last quarter. Insiders own 1.30% of the company’s stock.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.